Vodafone to pay $21.8 billion for Liberty assets to strengthen European presence

Vodafone will get access to 54 million homes on its cable as well as also also fibre network as well as also also enable which to cross sell a range of services to those customers, while also taking out costs.

The deal, one of the biggest in Vodafone’s history, follows a similar move in Spain where Vodafone bought cable operator Ono as well as also also will be designed to help the group meet customer demand for 1 package of fast communications services.

“Vodafone will become Europe’s leading next generation network owner, serving the largest number of mobile customers as well as also also households across the EU,” Chief Executive Vittorio Colao said.

Vodafone said combining the companies’ operations could generate cost savings of about 535 million euros a year before integration costs by the fifth year after the deal completes.

The two companies, which already have a joint venture inside Netherlands which will be excluded via the deal, restarted talks in February about Vodafone buying Liberty’s assets inside additional continental European countries where they overlap.